Coronavirus is uncharted territory for us all. The spread of the virus is being felt around the globe, but people are experiencing the impacts in different ways. For those of us in the vacation rental industry, the uncertainty is exhausting and exacerbated by the real and immediate impact of cancellations to our bottom lines.
We hear you, we are here for you, and we will continue to be here for you. We take pride in being on the same team as property managers. That’s why we’ve always aligned our revenue with our customers’ revenue; we make money when you do.
Let's navigate this together. If there’s anything we can do to help your business, please reach out.
What we’re doing now:
- We will update this page daily with the latest data trends, and practical advice from our experts, to help you make the most informed decisions possible.
- We’ve lowered prices across the board for all listings for the next two months. We’ll be tailoring this per market as we see the impact of cancellations in each market.
- We have launched a new feature to make bulk actions like portfolio-wide price adjustments, to give you more control to make quick changes as the situation changes.
- We will be adding cancellation insights to our stats dashboard to better understand the effect of cancellations across your listings.
How to capture demand:
While there isn’t a lot of demand right now, certain markets are being harder hit than others. Faced with weeks indoors, some people are looking to quarantine somewhere new. With the appropriate cleaning procedures in place, there is an opportunity to capture this demand. Whether the tradeoffs are worth it is up to you, but if you’d like to capture the demand, here is our advice.
Handling cancellations:
We know that cancellations are putting your business at risk. All cancellations are credited to your account as soon as we sync. When we see the market start to recover and you see reservations start to come in, please reach out if you’d like more flexible billing terms.
We do not know how long this uncertainty will last, but know that Beyond Pricing is here to optimize your business in the good times and the bad. Reducing prices can only go so far in driving demand when people are scared to travel. When the industry starts to recover, we’ll be here to make sure you’re the first to start getting bookings at the maximum rate to get your business back on track as quickly as possible.
Take care,
David Kelso
Co-Founder & CEO
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